CARE ratings for Indian debt instruments-Jan 10

Last Updated: Tue, Jan 10, 2017 11:40 hrs

Jan 10 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for local debt instruments as of January 9, 2017. COMPANY INSTRUMENT RATING AMOUNT MOVEMENT (RS.MLN) ------- ---------- ------ ------- --------- SHORT TERM RATINGS: ------------------- Aksharchem (India) Ltd ST Bk Fac CARE A1+ 70 Revised from CARE A1 Alankit Assignments Ltd ST Bk Fac CARE A4+ 205.2 Reaffirmed Amritesh Industries Pvt Ltd ST Bk Fac CARE A4 50 Reaffirmed Bardhaman Agro Pvt Ltd ST Bk Fac CARE A4 1.7 Reaffirmed Cipriani Harrison Valves Pvt Ltd ST Bk Fac CARE A4 12.4 Assigned Darjeeling Impex Ltd. ST Bk Fac CARE A4 30 Reaffirmed Garg Lumbers Pvt Ltd ST Bk Fac CARE A4+ 200 Assigned Intas Pharmaceuticals Ltd ST Debt (STD) / CP CARE A1+ 750 Reaffirmed Issue (CP) (Standalone) Kolkata Marine Products Pvt. Ltd. ST Bk Fac CARE A4 155 Reaffirmed (enhanced from 9.50 CR) Magicrete Building Solutions Pvt Ltd ST Bk Fac CARE A3 9.2 Reaffirmed Manidhari Gums And Chemicals ST Bk Fac CARE A4 40 Reaffirmed (reduced from Rs.4.75 crore) Mm Tv Ltd ST Bk Fac CARE A1 60 Reaffirmed Model Exims ST Bk Fac CARE A3+ 40 Reaffirmed National Polyplast (India) Ltd ST Bk Fac CARE A4+ 110 Assigned Radha Casting & Metalik Pvt Ltd ST Bk Fac - - Withdrawn (reduced from 0.73 CR) Ronch Polymers Pvt Ltd ST Bk Fac CARE A2+ 125 Assigned Ronch Polymers Pvt Ltd Proposed ST Bk Fac CARE A2+ 71.4 Assigned Sandeep Metalcraft Pvt Ltd ST Bk Fac CARE A3 115 Assigned Shri Anant Syntex Ltd ST Bk Fac CARE A4 10 Reaffirmed Som Shiva (Impex) Ltd ST Bk Fac CARE A3 5 Reaffirmed Spectrum Dyes & Chemicals Pvt Ltd ST Bk Fac CARE A3+ 96 Revised from CARE A3+ Tapadia Polyesters Pvt Ltd ST Bk Fac CARE A3 40 Reaffirmed Techfab International Pvt Ltd ST Bk Fac CARE A2 300 Reaffirmed (Reduced from 31.00 CR) The Oudh Sugar Mills Ltd ST Bk Fac CARE A3 383 Revised from CARE A4+ Tt Ltd ST Bk Fac CARE BB 2210 Reaffirmed (enhanced from 201.00 CR) Upper Ganges Sugar & Industries Ltd ST Bk Fac CARE A3 203.5 Continues to be under credit watch Yantra Kaushalya Engineers Pvt Ltd ST Bk Fac CARE A4 41.2 Assigned LONG TERM RATINGS: ------------------- Aksharchem (India) Ltd LT Bk Fac CARE A+ 105.1 Revised from CARE A Aksharchem (India) Ltd LT/ST Bk Fac CARE A+ /CARE 350 Revised from A1+ CARE A / CARE A1 Akshat Agro Milling Company Pvt Ltd LT Bk Fac CARE BB+ 300 Reaffirmed Alankit Assignments Ltd LT Bk Fac CARE BB+ 336 Reaffirmed Al-Fauz International LT/ST Bk Fac CARE BB+ /CARE 150 Reaffirmed A4+ Amritesh Industries Pvt Ltd LT Bk Fac CARE B+ 100 Revised from CARE BB- Arihant Plantations Pvt. Ltd. LT Bk Fac CARE BB 143 Reaffirmed Arpee Energy Minerals Pvt Ltd. LT Bk Fac CARE B+ 70 Reaffirmed Bardhaman Agro Pvt Ltd LT Bk Fac CARE BB- 70.5 Revised from CARE B (reduced from 8.28 CR) Chermas Exquisite Ltd LT Bk Fac CARE BB- 145 Revised from CARE BB Cipriani Harrison Valves Pvt Ltd LT Bk Fac CARE BB 55.3 Assigned Cipriani Harrison Valves Pvt Ltd LT/ST Bk Fac CARE BB /CARE 30 Assigned A4 Darjeeling Impex Ltd. LT Bk Fac CARE BB- 60 Reaffirmed Darjeeling Tea And Chinchona LT Bk Fac CARE BB 167.5 Reaffirmed Association Ltd. (reduced from 17.00 CR) Deccan Jewellers Pvt Ltd LT Bk Fac CARE BB- 290 Revised from CARE BB (reduced from Rs. 35.00 crore) Dharti Cotton Pvt Ltd LT Bk Fac CARE B+ 120 Reaffirmed G. R Multiflex Packaging Pvt Ltd LT Bk Fac CARE B+ 120 Assigned Garg Lumbers Pvt Ltd LT Bk Fac CARE BB- 15 Assigned Hitachi Payment Services Pvt Ltd NCD CARE AA 1200 Placed on credit watch with developing implications Intas Pharmaceuticals Ltd LT / ST Bk Fac CARE AA+ /CARE 5500 Revised from A1+ CARE AA+ / CARE A1+ K. R. Kumar LT Bk Fac CARE BB- 90 Assigned Kedia Lumbers LT/ST Bk Fac CARE BB /CARE 125 Assigned A4 Kolkata Marine Products Pvt. Ltd. LT Bk Fac CARE BB- 5 Reaffirmed Leon Realtors Pvt Ltd LT Bk Fac (TL - CARE BBB(SO) 1340 Reaffirmed Lease Rental Discounting)@ @The rating is based on the credit enhancement in the form of structured payment mechanism which entails operating escrow account and maintenance of Debt Service Reserve Account in the form of Bank Guarantee (Covering two month's principal and interest obligation). Magicrete Building Solutions Pvt Ltd LT Bk Fac CARE BBB- 496.6 Reaffirmed (reduced from Rs.55.76 crore) Maihar Alloys Pvt. Ltd. LT Bk Fac CARE B+ 90 Reaffirmed Manidhari Gums And Chemicals LT Bk Fac CARE BB- 69.3 Revised from CARE BB (reduced from Rs.8.13 crore) Mm Tv Ltd LT Bk Fac CARE A 339.7 Reaffirmed (Enhanced from 31.60 CR) Model Exims LT/ST Bk Fac CARE BBB /CARE 450 Reaffirmed A3+ Model Exims (India) Pvt Ltd LT/ST Bk Fac CARE BBB /CARE 180 Reaffirmed A3+ Moon Syndicate LT Bk Fac CARE BB- 90 Reaffirmed (enhanced from 6 CR) National Polyplast (India) Ltd LT Bk Fac CARE BB+ 243.2 Assigned Nsl Cotton Corporation Pvt Ltd LT Bk Fac CARE D 250 Revised from CARE B- Nsl Cotton Corporation Pvt Ltd ST Bk Fac CARE D 1.6 Revised from CARE A4 Pawan Impex Pvt Ltd LT Bk Fac (TL - CARE BBB(SO) 1850 Reaffirmed Lease Rental Discounting)@ @The rating is based on the credit enhancement in the form of structured payment mechanism which entails operating escrow account and maintenance of Debt Service Reserve Account in the form of Bank Guarantee (Covering two month's principal and interest obligation). Pranav Foundations Pvt Ltd LT Bk Fac CARE B+ 300 Reaffirmed Radha Casting & Metalik Pvt Ltd LT Bk Fac CARE B 40 Revised from CARE D Renew Wind Energy (Jath) Ltd LT Instrument - CARE AA+(SO) 4360 Reaffirmed NCDs@ (reduced from 451 CR) Rishi Ice & Cold Storage Pvt Ltd LT Bk Fac CARE B+ 122.9 Reaffirmed (reduced from 13.12 CR) Ronch Polymers Pvt Ltd LT Bk Fac CARE A- 953.6 Assigned Sandeep Metalcraft Pvt Ltd LT Bk Fac CARE BBB- 100 Assigned Saraswati Associates Company LT Bk Fac CARE B+ 35 Revised from CARE B Saraswati Associates Company LT / ST Bk Fac CARE B+ /CARE 45 Revised from A4 CARE B / CARE A4 Sharan Hospitality Pvt Ltd LT Bk Fac (TL - CARE BBB(SO) 740 Reaffirmed Lease Rental Discounting)@ @The rating is based on the credit enhancement in the form of structured payment mechanism which entails operating escrow account and maintenance of Debt Service Reserve Account in the form of Bank Guarantee (Covering two month's principal and interest obligation). Shiv Health Foods Llp Fund Based - LT-TL - - Withdrawn Shiv Health Foods Llp Fund Based - LT-CC - - Withdrawn Shri Anant Syntex Ltd LT Bk Fac CARE BB 372.1 Reaffirmed Som Shiva (Impex) Ltd LT Bk Fac CARE BBB- 221.9 Reaffirmed (reduced from Rs.23.28 crore) Spectrum Dyes & Chemicals Pvt Ltd LT Bk Fac CARE BBB 781.3 Revised from CARE BBB- (enhanced from Rs.64.43 CR) Spectrum Dyes & Chemicals Pvt Ltd LT/ST Bk Fac CARE BBB /CARE 1200 Revised from A3+ CARE BBB- / CARE A3 (enhanced from Rs.110.00 CR) Subhang Capsas Pvt Ltd LT Bk Fac CARE B+ 54.6 Assigned Sviit Software Pvt Ltd LT Bk Fac (TL - CARE BBB(SO) 570 Reaffirmed Lease Rental Discounting)@ @The rating is based on the credit enhancement in the form of structured payment mechanism which entails operating escrow account and maintenance of Debt Service Reserve Account in the form of Bank Guarantee (Covering two month's principal and interest obligation). Tapadia Polyesters Pvt Ltd LT Bk Fac CARE BBB- 630 Reaffirmed The Oudh Sugar Mills Ltd LT Bk Fac CARE BBB- 6359.6 Revised from CARE BB+ (reduced from 661.45 CR) The Oudh Sugar Mills Ltd LT/ ST Bk Fac CARE BBB- 15 Revised from /CARE A3 CARE BB+ / CARE A4+ Tirupati Balajee Nutrition Pvt Ltd. LT Bk Fac CARE B+ 77.1 Reaffirmed (reduced from 8.28 CR) Tt Ltd LT Bk Fac CARE BB 1090.5 Reaffirmed (reduced from 134.13 CR) Upper Ganges Sugar & Industries Ltd LT Bk Fac CARE BBB 3081 Revised from CARE BBB- (reduced from 325.35 CR) Yantra Kaushalya Engineers Pvt Ltd LT Bk Fac CARE BB- 6.9 Assigned Yantra Kaushalya Engineers Pvt Ltd LT/ST Bk Fac CARE BB- / 10 Assigned CARE A4 -------------------------------------------------------------------------------------------- $: Rating watch with positive implication #: Rating Watch with Developing implications @: Rating Watch with Negative Implications %: Rating under Credit Watch wd -Rating Stands Withdrawn sp -Rating Suspended pp -Principal Protected pn -Principal Not Protected CARE may apply + or - signs for ratings to reflect a comparative standing within the category. BG-Bank Guarantee; CC-Cash Credit; CCPS-Cumulative Convertible Preference Share; CD-Certificate of Deposit; CLO-Collateralized Loan Obligation; CPA-Claims Paying Ability; CP-Commercial Paper; CPS-convertible preference shares; CRPS- Cumulative Redeemable Convertible Preference shares; DDB-Deep Discount Bond; EPBI-Exchange premium bond; FBL-Fund Based Limits; FRB/FRN -Floating Rate Bond/Note; ICD -Inter Corporate Deposit; ITD-Immediate Term Debt; LOC-Letter of Credit; LT -Long Term; LTB -Long Term Borrowing; LTD -Long Term Debt; MOCD-multiple option convertible debenture; MTD -Medium term Debenture; MTN-medium term notes; NCD(SO) - Non-Convertible Debenture-(Structured Obligation); NCD-Non-convertible Debentures; NCRB-Non Convertible Redeemable Bonds; NM-Not Meaningful; OCD-optionally convertible debenture; OD-Over Draft; OFCD-Optionally Fully Convertible Debenture; PCD-Partially Convertible Debenture; PCN-partly convertible notes; PCPS-Partly Convertible Preference Share; POCD-partly optional; PP-privately placed; PSPC-Post Shipment & Packing Credit; PS-Preference Shares; PTC-Pass Through Certificates; RPS-Redeemable Preference Shares; SCPN-secured convertible preference notes; SDO-Structured Debt Obligation; SLR-Statutory Liquidity Ratio; SO-Structured Obligation; SPCD - Secured Partly Convertible Debentures; SPN-secured premium notes; STB-Short Term Bond; STD-Short Term Debentures; ST-Short Term; Sub. Bonds-Subordinate Bonds; TB-Taxable Bond; TFB-Tax Free Bond; TL-Term Loan; TOCD-triple option convertible debentures. (Mumbai Rate Reporting Unit + 91 22 6180 7222/3317 7222, E-mail at rru.data@thomsonreuters.com)



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